Cannabis stocks and cannabis penny stocks have been flying 'high' this week on both the US and Canadian markets. Many major cannabis companies made big announcements this week, pushing up investors' confidence in cannabis. Today, we'll take a closer look at The Green Organic Dutchman Holdings Ltd (TSX:TGOD) and Aleafia Health Inc. (TSXV:ALEF).
Cannabis Penny Stocks: The Green Organic Dutchman
The Green Organic Dutchman is headquartered out of Mississauga, Ontario, and through its subsidiaries operates as a cannabinoid-based research and development company in Canada. The Canadian-based company produces cannabis products including cannabis oil, edibles, and organic dried cannabis.
The Green Organic Dutchman is among the top trading stocks on the Toronto Stock Exchange today for daily trade volume. Eight days ago, the cannabis penny stock announced that its wholly-owned subsidiary SpinCo has entered into a definitive arrangement agreement.
According to Yahoo Finance, TGOD is currently trading at $3.26 a share, up +$0.38 (+13.19%). It remains unknown at this time why the stock has jumped up today, considering it has been over a week since the company has announced any major news.
>> The UK Legalizes Medical Cannabis
Cannabis Penny Stocks: Aleafia Health
Aleafia Health is headquartered in Concord, Ontario, and operates as a vertically integrated cannabis company in Canada. The cannabis company provides medical consultation services to determine the suitability of medical cannabis for patients dealing with chronic pain.
This morning, Aleafia announced that it has signed a non-binding term sheet in which Aleafia will acquire a 10% equity stake in CannaPacific. CannaPacific is a licensed Australian medical cannabis company that grants licenses to cultivate and produce medical cannabis in Australia.
“This strategic investment in an emerging medical cannabis market marks Aleafia’s first step towards a broader global expansion,” said Aleafia Chairman Julian Fantino.
According to Yahoo Finance, the cannabis penny stock is currently trading at $2.35 a share, up +$0.12 (+5.38%).
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